Pricing Low in Colorado Real Estate Current Market

Get more for your home by lowering the listing price.

According to Dian Hymer, offering your home with a low listing price might be beneficial:

Home sellers dream of receiving more than one offer and a sale price that’s higher than the list price. With inventories low in many communities across the country, multiple offers are more common than they’ve been in years.

A strategy that has become popular in areas that lack sufficient inventory to satisfy the demand is to select a list price that is lower than the expected selling price. In theory this should attract more buyers and result in a higher price.

The key ingredient for this approach to work is that the listing must appear well priced to buyers. The price needs to be based on recent comparable sales, not on the price the sellers would like to receive for their home.

HOUSE HUNTING TIP: Often pricing low pays off well for sellers. However, you could cut yourself short unless your real estate agent carries out an ambitious marketing campaign for your home before you hear offers.

Your listing should be on the multiple listing service with a lot photos that accurately depict your home. Often MLS listings are displayed on many other websites, like Realtor.com. Since more than 85 percent of homebuyers use the Internet to find a home, quality photos are essential. Buyers discount listings that don’t show any photos.

In addition to the Internet, your agent should run ads announcing the new listing in the local newspapers. As soon as possible after the listing is on the market, your agent should host an open house for real estate agents.

This strategy might work in today’s Colorado real estate situation since there is big demand for housing and truly is a sellers market.

Comments are closed.